What the other papers say this morning

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FINANCIAL TIMES

More bond investors bet on US rise
More US bond investors are seeking new ways to hedge against the risk of a sharp rise in interest rates in case growth in the world’s largest economy picks up and the Federal Reserve starts to wind up its current stimulus policies. The US central bank is expected to maintain its current level of bond purchases. However, some investors are taking positions in exchange traded funds and leveraged loans that are designed to profit if market interest rates spike higher.

Tax office postpones payroll reform
HM Revenue & Customs has bowed to pressure from small businesses and postponed a significant overhaul of payroll taxes amid fears companies were unprepared for the upheaval.

THE TIMES

Abramovich junior strikes oil
The eldest son of Roman Abramovich is treading in the footsteps of his oligarch father after pulling off his first big oil deal in Russia, despite being in his teens, The Times has learnt.

Cannabis drug group plans raising
The British maker of a cannabis-based anti-spasticity drug wants to raise up to $50m (£33m) from a listing in New York. GW Pharmaceuticals announced the move yesterday.

The Daily Telegraph

Yahoo! in talks to buy video website
Yahoo! is in talks to acquire a controlling stake in Dailymotion, one of the world's most popular online video websites, in what would be Marissa Mayer's largest deal since taking the reins in July.

Lululemon recalls yoga leggings
Lululemon, makers of the ubiquitous leggings, discovered that some of their material was too revealing. The Canadian company recalled some of its women's yoga pants. Its shares dropped more than five per cent in trading yesterday.

THE WALL STREET JOURNAL

FDA scraps cigarette warnings
The Obama administration said it is effectively scrapping a series of graphic warning labels on cigarette packages that were blocked by a federal appeals court.

Hostess wins sale approval
A bankruptcy judge cleared Hostess Brands to hand over its most popular cake and bread brands to a bevy of buyers, some of whom hope to get treats like Twinkies back on the shelves by the summertime.